SAN FRANCISCO: Airwallex, a global financial technology firm, said Wednesday it has acquired OpenPay, a San Francisco-based billing platform specializing in subscription management, payment orchestration and revenue analytics.
The acquisition aims to integrate OpenPay’s capabilities into Airwallex’s global infrastructure, enabling businesses to automate and scale recurring revenue across borders. Financial terms of the deal were not disclosed.
“Most billing systems are locked in the past, they were never designed for a global, multi-currency world,” said Jack Zhang, Airwallex co-founder and CEO. “By bringing OpenPay’s subscription management, orchestration and analytics capabilities into Airwallex, we’re creating the first truly global billing platform.”
OpenPay’s technology includes smart payment routing, AI-driven retention tools and support for tiered, usage-based and flat-fee billing models. The platform is designed to meet rising demand from AI and consumption-led businesses that monetize services by tokens, calls and compute.
“We started OpenPay to solve the complexity of recurring revenue management,” said Lance Co Ting Keh, OpenPay CEO. “In Airwallex, we found a partner who shares our vision and has the global reach to apply our work at scale.”
The acquisition positions Airwallex to compete more directly with Stripe Billing and Recurly, offering built-in usage-based billing across currencies and geographies. The integration is expected to roll out in the fourth quarter.